European Central Bank head Christine Lagarde says U.S. default on debt "not possible" ahead of approaching deadline

Washington — European Central Bank President Christine Lagarde said Sunday that it is "not possible" that the United States would default on its debt as Congress faces a fast-approaching deadline to address the debt ceiling.

"I just cannot believe that they would let such a major, major disaster happen of the United States defaulting on its debt. This is not possible." Lagarde said in an interview with "Face the Nation." "I cannot believe that it would happen. But if it did happen, it would have very, very negative impacts, not just for this country where confidence would be challenged, but around the world."

Lagarde said she has "huge confidence" in the U.S.